You have reached your limit of free articles this month.

Enjoy unlimited access to

Starting at just 99¢ for 8 weeks.


  • ePAPER

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.


Welcome to

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

breaking news

New shopping center proposed at long-vacant Springfield site

City changes code to help with loans

Springfield banker favors reduced restrictions.

A change to city code will allow residents to rebuild non-conforming structures if they’re destroyed and ease the process of selling and refinancing these types of buildings.

According to a section of the city’s previous non-conforming code, a structure that is non-conforming and that is destroyed by fire, act of God or public enemy to 100 percent of its value then must be rebuilt in a conforming status.

City commissioners voted unanimously this month to amend the non-forming code to remove this section.

“It was preventing people from refinancing or getting new loans on property,” said Bryan Heck, the city’s planning and zoning administrator.

For example, if a four-unit structure in an RS-8 zoning classification — which only allows two-unit structures — is destroyed, an owner would have to rebuild it in conforming status.

Heck said what prompted the change was banks tightening the process on home and home refinancing loans. Heck said the problem arose from residents, property owners, banks and loan officers.

“That provision of the code a lot of times was preventing people from refinancing or selling their home,” Heck said. “If you owned a four-unit and you were trying to sell that structure, most likely the bank was not going to issue a loan to a buyer because if it was destroyed … it couldn’t be rebuilt. The mortgage company didn’t want to make that loan because they didn’t want that risk associated with it being destroyed.”

Heck said they’ve had positive feedback from these owners who are looking to either sell or refinance their properties.

“They’re already starting the process of selling or refinancing,” Heck said.

Jason Bucey, the assistant vice president of New Carlisle Federal Savings Bank in Springfield, said in his experience, the scenario is rare. However, anything that reduces restrictions will open the market and make it easier for lending.

“It makes it easier to get a loan, and the value will increase because you have more buyers,” Bucey said. “Anything like that is absolutely going to help.”

Reader Comments ...

Next Up in Community News

Inauguration weather forecast: Dreary, rainy and cold
Inauguration weather forecast: Dreary, rainy and cold

>>Complete coverage of Donald Trump's inauguration  The temperature should be around 45 degrees at noon, the weather service, AccuWeather and the Weather Channel all predict. It will remain in the 40s through the afternoon and early evening.
Report: ISIS destroys part of ancient Syrian amphitheater
Report: ISIS destroys part of ancient Syrian amphitheater

A Roman amphitheater in the ancient city of Palmyra has been partially destroyed by ISIS fighters, the Syrian state news agency reported Friday. According to CNN, Syrian news agency SANA reported that "ISIS destroyed the facade of the Roman theater and the Tetrapylon in the ancient city of Palmyra."  Syrian state news also reported that...
Joke is on Florida comedian after Cowboys tattoo backfires
Joke is on Florida comedian after Cowboys tattoo backfires

The playoff loss by his beloved Dallas Cowboys is going to stay witha South Florida resident for some time. Permanently, actually. Jason Garnett, a 24-year-old stand-up comedian from Boynton Beach, was so sure the Cowboys were going to win the Super Bowl this season that last month, he put it down in ink — on his right biceps. "Super Bowl...
Harambe’s grandmother euthanized at age 49
Harambe’s grandmother euthanized at age 49

The grandmother of the internet-famous gorilla Harambe was euthanized after years of failing health, Zoo Miami announced Wednesday.
Almost 100, South Florida man says it’s time to retire
Almost 100, South Florida man says it’s time to retire

Scattered throughout Fred Sergio’s waterfront home in South Florida are dozens of hand-whittled wooden canes, each a piece of the past half-century of Delray Beach’s history. Sergio will celebrate his 100th birthday Tuesday — and amazingly, his retirement from the city as grounds supervisor at Miller Park. When asked to recall...
More Stories